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TCS signs contract with New Zealand based Westpac Life to provide end-to-end Insurance solution

September 6, 2011

TCS, a leading IT services, consulting and business solutions organization, announced today that Westpac Life NZ Limited (Westpac) has selected TCS BaNCS Insurance to assist the financial institution to upgrade and transform its life insurance software platform.

Kevin Crowley, Head of Insurance, Westpac stated, “After an extensive evaluation process, we selected TCS BaNCS Insurance solution due to its flexibility, ease of configuration and strategic technical fit with our insurance-related business requirements. The transformation program will enable the insurance business to respond rapidly to changing market conditions as well as offer improved levels of service to Westpac’s customers.”

Pradipta Pandit, Product Head, TCS Financial Solutions, added, “We are delighted to be working with Westpac to introduce new and exciting insurance products in New Zealand. The innovative platform will provide Westpac the ability to define, configure and launch new products in a swift and efficient style. Our experienced delivery team is looking forward to activating another successful TCS BaNCS implementation.”

“We are very pleased to be partnering with Westpac’s Insurance division in New Zealand and see this as a strategic expansion of our growing relationship with Westpac, both in New Zealand and in Australia,” stated Deborah Hadwen, CEO, TCS – Australia and New Zealand.

TCS BaNCS Insurance provides a complete end-to-end solution for the insurance business, supporting all mainstream products, sales channels and life-cycle functions, including customer management, product definition, policy administration, claims management, insurance accounting and reinsurance. TCS BaNCS Insurance supports insurance firms of different sizes and complexities across the globe and offers functionally-rich, flexible and user-friendly support for insurance operations. The solution operates through an easy-to-use web-based interface supporting global organizations having multiple languages and currencies. The solution can be easily customized to meet the specific business needs of any insurance service provider.